Yellowcake Mining Inc. announced the signing of a letter of intent to enter into an Exploration Earn-in agreement with AuEx Ventures Inc. for the Trinity Silver property, located in Pershing County, Nevada. The property consists of 59 unpatented mining claims and 5,040 acres of fee land, about 5,800 acres in total. It is located about 25 miles northwest of the Rochester Silver Mine, one of the largest silver mines in the US and about 10 miles southeast of the Seven Troughs gold district. Once the Earn In Agreement is executed, to be completed by November 1, 2009, Yellowcake can acquire an undivided 70% interest in the Trinity Silver property during a six-year period in consideration of i) total cash payments of $250,000, before November 1, 2009 for partial reimbursement of the Newmont buyout by AuEx and ii) a total of $5,000,000 in exploration expenditures by August 20, 2014, including a minimum of $500,000 in the first year (firm commitment). iii) on the 1st anniversary of the agreement, pay to AuEx a second payment of $250,000 fulfilling reimbursement to AuEx for completion of the Newmont buyout.

Yellowcake Mining, Inc. reported unaudited earnings results for the third quarter and nine months ended April 30, 2009. For the quarter, the company reported loss from operations of $1,583,805 and net loss and comprehensive loss of $1,583,503 or $0.03 per basic and diluted share compared to income from operations of $199,235 and net income and comprehensive income of $208,759 or $0.00 per basic and diluted share for the same period a year ago. During the three months, its cash used in operating activities decreased by 96% as it continued to manage its available resources when compared to the same quarter in 2008. For the nine months, the company reported loss from operations of $2,651,840 and net loss and comprehensive loss of $2,650,653 or $0.05 per basic and diluted share compared to loss from operations of $2,315,595 and net loss and comprehensive loss of $2,222,737 or $0.04 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $635,197 compared to $2,415,326 reported a year ago. The company spent on acquisition of office equipment of $809 for the nine months ended April 30, 2009. For the nine months, its cash used in operating activities decreased by 70% as it reduced its drilling program and had less corporate activities involving legal/deal costs when compared to the same nine month period in 2008.

Yellowcake Mining Inc. reported earnings results for the second quarter and six months ended January 31, 2009. For the quarter, the company reported loss from operations of CAD 474,223 and net loss and Comprehensive loss of CAD 474,223 or CAD 0.01 basic and diluted loss per share against loss from operations of CAD 1,018,767 and net loss and comprehensive loss of CAD 984,861 or CAD 0.02 basic and diluted loss per share, reported for the same period a year ago. For the six months, the company reported loss from operations of CAD 1,068,035 and net loss and Comprehensive loss of CAD 1,067,150 or CAD 0.02 basic and diluted loss per share against loss from operations of CAD 2,514,830 and net loss and comprehensive loss of CAD 2,431,496 or CAD 0.05 basic and diluted loss per share, reported for the same period a year ago. Net cash used in operating activities for the period was CAD 578,810 against CAD 859,233, reported for the same period a year ago.